Some companies are pulling out of this pandemic-based funk, and some feel secure enough to buy properties aggressively in order to improve the bottom line of not just themselves but the companies they are targeting.
Overall, for companies financial, it was a sub-par day; the U.S. sector fell 1.6%, while in Canada, the subgroup lost 0.3%, though nothing comparable appeared on the Canadian side.
Integrated Ventures Inc, (OTC: INTV) Monday trumpeted a purchase order and scheduled delivery for 100 Antminer S17Pro mining rigs.
Philadelphia-based Integrated Ventures seeks to achieve, above market, risk-adjusted returns, primarily by targeting companies in financial distress, undergoing a turnaround or undervalued companies that are looking for financial assistance, due to the current economic conditions.
The purchase order is valued at $127,000 and will be delivered to PetaWatt, New York, in next two weeks. The Company has retained Wattum Technologies to install and deploy custom ASIC firmware, designed (1) to increase hashing rate from 56TH to 72TH, while maintaining a low power consumption, (2) to optimize equipment performance and (3) to improve profitability by 20%.
In the next four to six weeks, the Company plans to purchase an additional 400 assorted miners, pending equipment availability by manufacturers.
INTV shares ballooned 39% to 4.1 cents on volume of 7.4 million shares.
